Sumitomo Mitsui Trust Group Inc. Acquires 21,368 Shares of Biogen Inc. (NASDAQ:BIIB)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 5.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 391,496 shares of the biotechnology company’s stock after acquiring an additional 21,368 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.27% of Biogen worth $59,868,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the third quarter worth $33,000. Venturi Wealth Management LLC increased its stake in Biogen by 73.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock worth $42,000 after buying an additional 93 shares during the period. Itau Unibanco Holding S.A. lifted its holdings in Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 90 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Biogen in the 3rd quarter valued at about $74,000. Finally, TD Private Client Wealth LLC grew its stake in Biogen by 25.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Analysts Set New Price Targets

BIIB has been the subject of several research analyst reports. Citigroup decreased their price target on shares of Biogen from $190.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Robert W. Baird upped their target price on Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Wolfe Research assumed coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. TD Cowen decreased their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Finally, Bank of America reiterated a “neutral” rating and set a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Sixteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $228.80.

Biogen Stock Down 0.7 %

Biogen stock opened at $141.35 on Monday. The business’s 50-day simple moving average is $149.14 and its two-hundred day simple moving average is $175.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The company has a market cap of $20.60 billion, a PE ratio of 12.77, a PEG ratio of 1.65 and a beta of -0.08. Biogen Inc. has a fifty-two week low of $139.71 and a fifty-two week high of $244.95.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.